We Merr’kuns may still be learning our money math. But if a downturn is good for anything, it’s for ruthless fiscal forehead-gripping—for economists and Joe 6-Packs alike. 

The good news:  Americans are reducing their credit card usage.  In fact, more than 8 million people stopped actively using their cards in the past year.  Now a big part of that is because many folks have gotten their swiper taken away.  But maybe we’re also wising up, and those 20-something interest rates just don’t interest us any more. Still, the sad fact remains that the average credit card balance hovers around $5,000.  Ugh.

The bad news: Our college students admit to overall cluelessness about managing their own money, and (of course) blame their parents.  (Duh!)  

The latest digits…

• 77% of students said they didn’t feel fully prepared to manage their own money when they went to college, according to a BookRenter College Experience survey.
• 85% believed that it was a parent’s responsibility to actively teach them about money.
• 5% felt that the onus of learning about money is on them. 

The best news:  Only 5% think (I mean “feel”) the onus (what’s an “onus,” anyway?) is “on them.”  Self-esteem must be thriving, even when the fiscal fitness is getting way flabby. 

In The Graduate, Mr. Mcguire says,

I want to say just one word to you.  Just one word, Benjamin…

Yes, sir, Mr. McGuire?

Plastics.”

Could we finally have Graduated from Plastics?